TCF Financial Corporation to Post FY2017 Earnings of $1.22 Per Share, DA Davidson Forecasts (TCF)
TCF Financial Corporation (NYSE:TCF) – Analysts at DA Davidson cut their FY2017 earnings estimates for shares of TCF Financial Corporation in a research report issued on Tuesday. DA Davidson analyst K. Reevey now expects that the company will post earnings of $1.22 per share for the year, down from their prior forecast of $1.24. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for TCF Financial Corporation’s Q4 2017 earnings at $0.35 EPS.
Several other research firms also recently weighed in on TCF. Royal Bank Of Canada restated a “buy” rating and set a $20.00 price objective on shares of TCF Financial Corporation in a report on Friday, October 27th. Zacks Investment Research upgraded shares of TCF Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $18.00 price objective on shares of TCF Financial Corporation in a report on Sunday, October 29th. Piper Jaffray Companies set a $17.00 price objective on shares of TCF Financial Corporation and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, JMP Securities initiated coverage on shares of TCF Financial Corporation in a report on Thursday, August 31st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. TCF Financial Corporation has an average rating of “Hold” and an average price target of $18.00.
TCF Financial Corporation (NYSE:TCF) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). TCF Financial Corporation had a net margin of 15.27% and a return on equity of 9.63%. The business had revenue of $343.30 million during the quarter, compared to analyst estimates of $340.45 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis.
In other news, Director Barry N. Winslow bought 12,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $25.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now directly owns 2,365 shares in the company, valued at approximately $59,125. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.30 annualized dividend and a dividend yield of Infinity. TCF Financial Corporation’s dividend payout ratio is currently 26.32%.
About TCF Financial Corporation
TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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